Partnership & BD
Category: Sales & GTM
Source: https://refoundai.com/lenny-skills/s/partnership-bd
Partnership & BD | Refound AI
Lenny Skills Database SKILLS PLAYBOOKS GUESTS ABOUT SKILLS PLAYBOOKS GUESTS ABOUT Sales & GTM 9 guests | 11 insights
Partnership & BD Strategic partnerships can accelerate growth in ways that organic efforts cannot—new distribution channels, enhanced credibility, and expanded capabilities. But most partnerships fail because they lack clear value exchange on both sides or because they're pursued for optics rather than substance.
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The Guide 4 key steps synthesized from 9 experts.
1 Define clear, mutual value before approaching partners Before reaching out, have a clear answer to 'What's in it for them?' The best partnerships create genuine value for both parties—not just PR opportunities. Map exactly what each side brings and what each side gets. If you can't articulate mutual value, the partnership isn't ready.
Featured guest perspectives
"Every partnership needs clear value exchange... if you can't explain why this helps them as much as it helps you, don't pursue it."
— Linda Kozlowski 2 Start with a small pilot to prove the model Don't try to negotiate a massive strategic deal upfront. Propose a limited pilot that lets both sides test the partnership with low risk. Use the pilot to prove value, work out operational kinks, and build trust before scaling the commitment.
Featured guest perspectives
"Big partnerships start small... prove the model works before asking for major commitments."
— Hubertus Grau 3 Build relationships at multiple levels Partnership success depends on relationships, not just contracts. Build connections with your counterpart's executives for strategic alignment, but also with the operators who will execute day-to-day. Champion departures shouldn't kill the partnership if relationships are deep.
Featured guest perspectives
"Partnerships are relationships... you need champions at multiple levels who believe in making it work."
— Linda Kozlowski 4 Define success metrics and review cadence upfront Vague partnerships drift into irrelevance. Define specific KPIs both parties will track, agree on a review cadence, and be willing to sunset partnerships that aren't delivering. The best partnerships get better over time because both sides actively manage them.
Featured guest perspectives
"If you can't measure it, you can't improve it... the best partnerships have clear metrics and regular reviews."
— Hubertus Grau
✗ Common Mistakes
Pursuing partnerships for PR value instead of genuine business impactFailing to articulate clear value exchange for both partiesGoing for big deals upfront instead of proving the model with small pilotsLetting partnerships drift without clear metrics and accountability ✓ Signs You're Doing It Well
Both parties can clearly articulate the value they receivePartnerships deliver measurable business results, not just announcementsRelationships exist at multiple levels of both organizationsPartners proactively bring you new opportunities
All Guest Perspectives
Deep dive into what all 9 guests shared about partnership & bd.
Adam Grenier 1 quote
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"I was able to basically position and say, 'Look it, you want to work with us. Let me into your alpha, because I have five years of experience already buying mobile ads. I know the space. I know it'll work. And if you get us to work, we're a killer case study...'" Tactical: Offer to be an alpha tester for new platform features to gain a first-mover advantagePitch your company as a unique case study for a category the platform wants to grow
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Ayo Omojola 1 quote
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"Very often the way to make things happen is network-dependent, not necessarily about the merit of the thing itself. So it's just like, there's companies that exist because the founders know the CEO of every major payer in the country" Tactical: Determine if your business model is network-dependent early on.Be extremely crisp about your use case to lower the social capital cost for others to introduce you.Focus on identifying the specific person in an organization who has their 'finger on the button' for decisions.
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Jason Droege 1 quote
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"McDonald's actually approached us and they said, 'We'd love to do food delivery with you.' And I said, 'No.'... I pushed them off for four or five months... I think it actually ended up being in net benefit because we got a great deal with them." Tactical: Don't rush into partnerships just because of the partner's sizeUse initial resistance to negotiate better deal terms or exclusivity
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Jen Abel 1 quote
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"The problem with channel partnerships and why I don't believe in them is there are a hundred of you on this list and you're expecting them to sell it on your behalf. Biggest no-no, they're not vision casters, they're not visionaries, they're consultants." Tactical: Don't expect consultants to disseminate your product; they are not incentivized to be your visionaries.
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Julia Schottenstein 1 quote
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"Use that corp dev team to your advantage. It's their job to meet absolutely every company that could be potentially interested. So take that meeting, say you're not interested in an acquisition just yet, but push them to make an introduction to someone that could sponsor the deal. So usually that's someone in product or maybe a GM." Tactical: Take meetings with corp dev teams even if you aren't currently looking for an exit.Ask corp dev for introductions to GMs or Product leaders who could act as internal sponsors for future deals.
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Meltem Kuran 1 quote
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"Venture capital partners was a huge one because when you get money from a new VC, they ask, they're like, 'Okay, thank you for giving us this money, now we want to expand our team with the money you gave us. What are your other portfolio companies using? What is a platform that you trust that you would recommend?' So people go to their VCs for that kind of question." Tactical: Identify partners who are consulted at the exact moment the customer's problem arises (e.g., VCs during hiring phases).
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Sriram and Aarthi 2 quotes
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"I just had a conversation on the internet. I have this whole thing where I do think a lot of people trying to get ahead in their career, especially in technology, should just write cold emails, cold DMs, notes, put out content, et cetera and that leads to good things." Tactical: Send cold DMs or emails to leaders you admire.Provide value or show genuine interest in their work to initiate a relationship. "Go and meet every single peer that you have you don't directly meet with. Go get coffee with them and ask them, 'Hey.' Have no agenda. Just ask them what's going on in their life, who are they, what their life story is and then who are a couple of interesting people that you should meet with?" Tactical: Schedule two 'no-agenda' coffees per week with peers and leaders.Always ask for introductions to two more interesting people at the end of a meeting.Follow up at least once a year to maintain the relationship.
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Keith Yandell 2 quotes
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"Why don't you figure out what the scalable solution is for this? We will build you a product. You won't need to come ask us every time to build something. And then you'll know the parameters in which you can negotiate." Tactical: Define the parameters of what can be negotiated before entering partnership talksBuild self-serve platforms for partners to increase velocity and reduce engineering load "We should have gone out and tested this at one hotel with just some hacky operations and seen what the uptick was... before going and asking for the product resources." Tactical: Test partnership ideas with 'hacky' manual operations (e.g., physical promo codes) firstApply the 'Dream big, start small' philosophy to BD deals
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Tobi Lutke 1 quote
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"Being a good partner in business is like this corporate marshmallow test that companies tend to fail in a very funny way... If you're talking about long timeframes, like 100 years, there is no question. But clearly, the correct way to play iterated prisoner's dilemma is coordinate for both sides. It's way more valuable doing that over long periods of time than any momentary defection could possibly be convenient at a moment." Tactical: Resist the urge to pull future profits forward at the expense of a partnerOperate on the assumption that both you and your partner will win your respective marketsPass the 'corporate marshmallow test' by choosing long-term coordination over immediate convenience
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